The freight forwarding industry, also known as non-vessel operating common carriers, has taken a massive hit over the course of the pandemic as supply chains have become disrupted and international trade has become increasingly volatile. However, the rise in domestic shipping has made the work of freight forwarders all the more important to supply stores in a difficult time. Freight forwarders contract with shipping line carriers to move their cargo in order to help secure lower prices. Forwarders are supply chain experts who are involved in commercial invoicing, warehousing, packaging, documentation, declaration of shippers export, and distribution at the final destination.
The freight forwarding industry takes advantage of the demand for low-cost shipping and leverages logistics solutions to provide cost-effective options for shippers.
As a market researcher, you may need to write a report about the freight forwarding industry. To do so, you will need to consider factors that can affect the freight forwarding industry. Because freight forwarders provide customers with many integrated services beyond simple transporting of cargo from source to destination, there are many factors to consider. For example, new trade agreements between nations can expand the market for freight forwarding, while the trend toward reshoring or nearshoring of manufacturing can reduce demand for freight forwarding.
How to Do a Freight Forwarding Market Research: 7 Easy Steps
This article will examine some tips for writing a great market research report on the freight forwarding industry.
1. Address all of the objectives. The first key to any freight forwarding market research report is to establish objectives and address them. Every report has to have a reason to exist, and the objectives of your report are the key elements that will govern how you organize, write, and develop your report. If your report does nothing more than address the objectives that you set out, you will have done everything that you need to do in your report.
2. Adapt your format to the material. It might seem as though you always need to deliver a market research report as a word processor document, but that isn’t always the case. Different types of reports and different types of audiences might work best with different types of formats. For example, some audiences might prefer a PowerPoint to a text-based document, while some types of presentation might benefit from a video.
3. Include an executive summary. No matter how wonderful your report is or how creative the format, there are going to be people who will need just the highlights to determine whether it is worth reading or viewing the entire thing. Your presentation should always include an executive summary in which you list all of the highlights and the conclusions that you draw. Don’t hold back information or tease the reader; the executive summary should contain everything they need to know about your research.
4. Tell a story with your research. It’s a proven fact that people respond better to narratives than they do to disconnected facts, statistics, or data points. Your market research report should tell a story about the aspects of freight forwarding that you are analyzing. By structuring your material in a way that reinforces the story, you will help to put the data and the statistics in context, and that will make the information more memorable and help to make your conclusion more persuasive and more compelling.
5. Be concise. Nobody wants to wade through lots of unnecessary verbiage in order to reach the important bits. Try to tell your story simply and directly, using clear and concise language. Get to the point quickly, cut out unnecessary details, and make sure that every word is necessary.
6. Include a lot of pictures and graphics. Unlike an essay, a market research report needs to be visually compelling in order to keep your audience’s attention and drive your points into their head. Visual information can be extremely beneficial in the business world since many readers will skim your presentation and look at the visuals first and foremost. Use graphs, charts, and photographs to help present data in a visual form. Visualizing data can help to clarify trends and make it easier to understand and absorb what numbers mean for the freight forwarding industry.
7. Be consistent in your use of graphs. Graphs and charts are going to make up a lot of your report, but they can confuse the reader unless they are consistent to make it easy to compare information across and between graphs. So, for example, use the same scale on your graphs, and represent the same variables with the same color from graph to graph. If the graph is reporting the results of a questionnaire, it’s a good practice to provide the question’s exact wording beside the results graph so the reader doesn’t have to go searching for it.
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